Insider Selling: Paylocity (NASDAQ:PCTY) Chairman Sells $2,478,300.00 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY) Chairman Steven Beauchamp sold 15,000 shares of Paylocity stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $165.22, for a total value of $2,478,300.00. Following the transaction, the chairman owned 1,243,389 shares of the company’s stock, valued at $205,432,730.58. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paylocity Stock Performance

Shares of Paylocity stock traded up $0.07 on Friday, hitting $166.32. The stock had a trading volume of 459,494 shares, compared to its average volume of 777,098. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50. The business’s 50 day moving average is $149.36 and its two-hundred day moving average is $125.54. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $169.09.

Paylocity (NASDAQ:PCTY) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. Analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Institutional Investors Weigh In On Paylocity

A number of institutional investors have recently made changes to their positions in PCTY. Curated Wealth Partners LLC purchased a new position in shares of Paylocity in the third quarter worth $498,000. WealthPlan Investment Management LLC bought a new position in shares of Paylocity in the 3rd quarter worth about $203,000. Seelaus Asset Management LLC purchased a new stake in Paylocity in the third quarter worth about $304,000. Krilogy Financial LLC increased its stake in shares of Paylocity by 6.5% during the third quarter. Krilogy Financial LLC now owns 6,741 shares of the software maker’s stock valued at $1,052,000 after purchasing an additional 410 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Paylocity by 19.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 7,777 shares of the software maker’s stock valued at $1,190,000 after purchasing an additional 1,261 shares during the last quarter. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PCTY shares. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 target price on shares of Paylocity in a report on Wednesday, August 5th. Weiss Ratings upgraded Paylocity from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. KeyCorp raised their price target on shares of Paylocity from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Barclays upped their target price on shares of Paylocity from $154.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Robert W. Baird set a $201.00 price target on Paylocity in a report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paylocity has a consensus rating of “Moderate Buy” and an average target price of $163.76.

About Paylocity

Paylocity Holding Corporation (NASDAQ:PCTY) provides cloud-based human capital management (HCM) software for organizations and their employees. Its platform is designed to help businesses manage payroll, human resources, employee benefits, workforce administration and related compliance activities through a unified system.

The company’s products and services include payroll processing, tax and regulatory support, time and labor management, benefits administration, talent acquisition and management, employee performance tools, expense management, reporting and analytics.